Anavex Life Sciences Corp (AVXL)

[imho]

The options shall vest upon achieving a key enrollment milestone in a late stage clinical study.

Raises some questions:

1) Which late stage clinical study? I'm guessing, it must be one that, as of this time, has not achieved the enrollment milestone.
2) What is considered "key" in terms of enrollment? First patient? Last patient?

Establishes a few facts:

1) At some point in the next 10 years (until 2031) they are expected to vest (i.e. enrollment "soon" has a maximum, lol)
2) Missling must come up with $9,055,000 (500,000 x $18.11) to participate and benefit in any stock appreciation (i.e expect stock to be well in the money).

Note that the vesting is not based on approval but enrollment target. More option grants may be on the horizon for approval.

Corrections welcome.

IMHO